Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: xcr600 who wrote (21921)	7/6/1999 9:48:00 PM
From: Clint E.	Read Replies (1) \| Respond to of 69996

X, I disagree with the generalization that Barrons consistently picks the bottom or top of any stock or any market, short-term or long-term. That statement on its own is absurd. Every case is different & you need to look at collection of events. ETYS wanted to go up from last Thurs. afternoon when it was at 41(#reply-10351956). Were a few shorts trapped in this morning and by covering (cutting small loss) helped it break the ~45 barrier? Probably, yes. But the reason for panic covering was the market mood not that Barrons is a contrarian indicator and we should buy any stock that they thrash at the open. If the stock had not based for a few days, the market wasn't as strong, and perhaps the news of departure of Toysrus.com's CEO was not announced(http://www.news.com/News/Item/0,4,84-38772,00.html?tt.yfin..txt.ni), you could be looking at a $40 or lower stock by the close(ETYS closed down from the intraday high by 9 points). Since AMZN was mentioned, here is how AMZN closed after the article in Barrons (#reply-9899043). It had opened down by 7 points but closed minus 13. The following day it dropped to a low of 97.125(#reply-9916304)...... Every case is different and hindsight is always 20/20. Clint